Which of the following represents buyer power in Porter's Five Forces Model?
A) Low when buyers have many choices of whom to buy from and high when their choices are few
B) High when buyers have many choices of whom to buy from and low when their choices are few
C) Low when buyers have many customers of whom to buy from and low when their customers are few
D) High when buyers have many customers of whom to buy from and low when their customers are few

Question

Quizplus · Accepted Answer

Buyer power is high when buyers have many choices of whom to buy from, as they can easily switch to a competitor with lower prices or better quality. When there are fewer choices available, buyer power decreases, as they may have to pay higher prices or accept lower quality goods or services.

Which of the Following Represents Buyer Power in Porter's Five